Fixing data errors takes 30 percent of the day
We all make errors. Most of the time when we manually enter data or copy-paste information between systems, we make mistakes. Actually, such errors are unavoidable because humans are not good at repetitive tasks. On one hand, we easily lose focus or get carried away in thoughts. On another, we hate such mundane work and rarely give it our all. We all have been there and know how easy it is to do a wrong entry, to paste data twice, or to mess up a number. Later on, we need to go back, find, and correct the mistakes we’ve made. We can imagine how big of a time-sucker that is for the business. Indeed, a study found that fixing data errors could take up to thirty percent of the day.
Gartner discovered that Robotic Process Automation (RPA) can save 25,000 hours in a year.
The average amount of avoidable rework in accounting departments can take up to thirty percent of the day. This equates to savings of 25,000 hours or $878,000 per year for an organization with 40 full-time accountants.
A Gartner study shared these findings back in 2019. Gartner’s analysts interviewed over 150 chief accountant officers. Also, they gathered data of the RPA adoption at those companies.
Automate to eliminate data errors
Apparently, fixing data errors is a big problem for organizations. The good news is that there is a solution for it – process automation. When the data processes are automated, errors are eliminated. Additionally, organizations save a lot of time and money by not paying employees for such tasks. Knowledge workers are able to focus on high-value work. Once unburdened, people have time to be creative and contribute to the company’s innovation. An added benefit is that job satisfaction goes up and turnover goes down when employees feel that their skills are better utilized. And last but not least, an organization can employ RPA without breaking the bank!
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